After the much anticipated launch of Ethereum’s genesis block, the currency (Or as the developers refer to it: fuel), began trading on a number of Bitcoin exchanges, including Poloniex, Cryptsy and Kraken. Trading began at nearly $2.80 USD before quickly plummeting as some early stakeholders decided to cash out and pocket a 500% return on their initial investment. This promptly drove the price to a low of 66 cents USD just days later. Since that time, investors and traders have become more optimistic and began pushing the currency upwards. The steady increase plateaued approximately one week later, and since that time the price has been hovering around the $1.28 USD mark.
What does the future hold for Ethereal? Its hard to say, although it certainly will be defined by the development of the Ethereum protocol and “Daps” as they are known to Ethereum enthusiasts. These are the pieces of software and applications that run on the Ethereum blockchain, and give the protocol functional value outside of a store of value.
After such a lengthy wait for the initial launch, it seems as though the waiting game will continue as we wait for apps to be developed. When such apps go live, it is safe to say that renewed interest will have an impact on the price.
Sep 5, 2015